Jeongeup-si, Jeonbuk Province, and DS&P Co., Ltd. Sign Investment Agreement Worth 25 Billion KRW
[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City, Jeonbuk Province, and DS&P Co., Ltd. announced on the 20th that they signed an agreement at City Hall to invest 25 billion KRW in the Cheoldo Agricultural and Industrial Complex.
The signing ceremony was attended by Mayor Yoo Jin-seop, Woo Beom-gi, Jeonbuk Province Political Deputy Governor, Lee Jung-tae, CEO of DS&P Co., Ltd., and other company officials.
According to the agreement, DS&P Co., Ltd. plans to invest 25 billion KRW in a 42,873㎡ site in the Cheoldo Agricultural and Industrial Complex to establish a new factory and production facilities.
Additionally, the company will hire 35 new employees as part of the investment implementation and will make every effort to revitalize the local economy.
To this end, the city and Jeonbuk Province will actively cooperate in administrative matters such as providing investment subsidies and processing permits.
Since its establishment in 2014, DS&P Co., Ltd. has been a leading excellent local company in the city, showing an annual sales growth rate of 30-40%. In 2019, it was selected as a promising small and medium enterprise by Jeonbuk Province, obtained POSCO InnoBuilt certification last year, and received the Model Taxpayer Award this year.
Especially last month, it was recognized for successfully managing a small and medium enterprise and contributing to regional economic development, receiving the ‘Jeonbuk Province Excellent SME Entrepreneur Award.’
The main products are square steel pipes (KS D 3568) and C-shaped pipes made of steel, supplied to over 150 dealerships nationwide, with plans for future exports.
Synergistic effects of mutual growth are also expected through business cooperation with Dawonsys Co., Ltd., a specialized railway vehicle manufacturer in the Cheoldo Agricultural and Industrial Complex.
Lee Jung-tae, CEO of DS&P Co., Ltd., said, “We are grateful to the city and Jeonbuk Province for their great support to our company. Based on this investment, we will do our best to contribute, even if slightly, to the growth and development of the local economy.”
Mayor Yoo Jin-seop said, “We sincerely thank DS&P, a representative local company of Jeongeup, for their investment decision. We will spare no administrative and financial support so that DS&P Co., Ltd. can grow into an excellent and exemplary company representing not only the city but also Jeonbuk Province.”
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Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil gjg7070@asiae.co.kr
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